Markets

Sector Update: Healthcare

Healthcare stocks were lower this afternoon, with the NYSE Healthcare Sector Index slipping about 1.2% and shares of healthcare companies in the S&P 500 also declining about 1.2% as a group.

In company news, shares of bluebird bio Inc. ( BLUE ) slid Tuesday after announcing plans for a $100 million public offering of its common stock.

At Monday's closing price of $37.62 a share, the biotech company working on treatments for rare genetic disorders and other orphan diseases would issue around 2.66 million new shares, diluting existing shareholders by nearly 11%.

BLUE shares recently were down nearly 9% at $34.37 each, earlier sinking to an intra-day low of $33.88 a share. The stock has a 52-week range of $17.03 to $41.75 a share, rising 19.5% over the past 12 months.

In other sector news,

(+) NURO, (+30.7%) FDA clears the company to begin over-the-counter sales of its wearable device using electrical stimulation of sensory nerves to treat chronic pain.

(-) IPCI, (-11.3%) Reports Q2 net loss of $3.1 million, or $0.14 per share, compared with a $1.8 million net loss during the same quarter last year. Revenue totaled $1.5 million during the quarter; it didn't record any revenue last year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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